insolvency
DOGE and Social Security Savings: Clarifying the Possibilities
The airwaves and wires are aflame with projections about the dollars that can be cut from Social Security, Medicare, and Medicaid spending through uncovering fraud, waste, and abuse. Recent DOGE estimates are that perhaps $700 billion in spending can be…
The Plight of Today’s Retirees: A Tale of Living on Social Security
A post on Business Insider yesterday outlined the difficulties faced by a 70-year-old retiree attempting to navigate retirement life and survive with Social Security benefits as her sole income source. Compounding the struggle is her inability to obtain employment to…
Another Argument for Opting Out of Social Security
The issue of breaking away from Social Security in its present form is not new. It’s been discussed repeatedly through the years and is now resurfacing as the projected full depletion of the program’s financial reserves approaches. The arguments for…
Thinking Outside the Box: Can Opting Out of Social Security be a Long-Term Solution?
As we’ve pointed out repeatedly on this site, the clock is ticking louder and louder as it counts down toward complete depletion of Social Security’s reserves–the reserves that, since 2021, have allowed the program to pay full promised benefits. With…
Social Security’s Looming Insolvency…What to do.
The steady and accelerating depletion of Social Security’s Trust Fund reserves, as well as the impact on beneficiaries if no corrective action is taken, are frequent topics in the news these days. Consequently, many folks already receiving benefits, along with…
Life Expectancy, A Critical Piece of the Social Security Solvency Puzzle, Rising Again
Yesterday, the Centers for Disease Control and Prevention (CDC) released statistics indicating nearly a year of growth in Americans’ expected lifespan. Longevity, of course, is a major factor in the long-term financing of Social Security, presenting a challenge to ensure…
“Fixing” Social Security has a Wide Range of Options to Consider
We’ve mentioned many perspectives on the best ways to address the looming Social Security insolvency crisis on this website. In a recent post on nasdaq.com, columnist The Motley Fool’s Matt Frankel covers a list of 16 possible ways to put…
A Discussion on Strenghtening the “Guardrails” for Social Security and Medicade
The crisis in Social Security and Medicare funding is drawing attention from many quarters, especially as the flashpoints draw closer. We’ve reached the point where the luxury of deferring action on the insolvency issues facing these two critical programs will…
Policy Options for Addressing Social Security & Medicare Solvency Issues
The focus on resolving the rapidly eroding financial positions of our country’s two critical senior safety net and income security programs—Social Security and Medicare—is growing. As we look ahead to the incoming congressional session, various solutions will likely enter the…
Too Much Dependence on Social Security Could be a Problem
A post by The Motley Fool’s Katie Brockman highlights the results of a recent Gallup poll in which 60% of those surveyed indicate that their Social Security benefits are a major source of their retirement income. Further, nearly 905 of…